The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
MILAN, Italy — Online luxury retailer Yoox Net-a-Porter (YNAP) is on track to be de-listed following the end of a takeover offer launched by Cartier owner Richemont, data from the Italian bourse showed on Wednesday.
Richemont — which already owns 25 percent of YNAP — in January offered up to 2.8 billion euros ($3.32 billion) for full control of the retailer to better compete in an expanding online market for luxury goods.
Nearly 94 percent of the shareholders targeted by the offer — or around 70 percent of YNAP’s share capital — accepted the bid by its deadline, preliminary data from the Italian bourse showed, taking Richemont’s stake in the company to just above 95 percent.
That is above the 90-percent threshold that triggers an obligation to buy out the remaining investors and de-list the group.
By Agnieszka Flak.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.